RE/MAX International is running a TV ad showing buyers kicking themselves in the butt because they didn't take advantage of the real estate market when things were great.
If you are waiting for the housing market to bottom out you are already to late. Mortgage rates are on the rise as well as the Stock Market and Gas Prices. The Fed is worried about inflation which is not a good sign for interest rates.
Now is the time to buy. Interest rates and home prices are still at an all time low. The Fed is giving first time home buyers a $8,000 tax credit. Which by the way ends Dec 1, 2009. So what are you waiting for? I'd hate to see a lot of people kicking themselves in the butt because they didn't take advantage of todays real estate market.